Unprecedented Opportunity to Transform a California Classic

January 24, 2023|by Our Partners

On the market for the first time in generations, The Palms property at 701 Linden Avenue in Carpinteria is being offered as a complete package of real estate, business, and brand.

The Palms building was originally constructed as a hotel in 1912, as prominently depicted in many photos of historic Carpinteria. In the 1950’s the downstairs of the building became home to the Palms Restaurant which generations of locals and visitors have known, while the upstairs retained much of its early hotel configuration.

A restoration of the property to its hotel roots along with a modified smaller food & beverage footprint, was recently considered by the City of Carpinteria Planning Commission in November 2022. In the public hearing, commissioners gave feedback and direction for some minor adjustments and mitigations, then provided unanimous backing in concept to a 17-room hotel layout plus restaurant and bar. With the positive momentum of this hearing, the proposal provides a platform for a new owner to visualize and analyze an exciting and profitable new chapter for the Palms property—an homage to the origin of Carpinteria’s most famous property, and a vision which is embraced by civic leaders.

Located on Linden Avenue which is the central commercial strip, The Palms building is only a few blocks away from Carpinteria Beach, informally known as the “world’s safest beach.” The town of Carpinteria has been a sort-of-secret coastal getaway for years, but is now evolving into its deserved place atop the list of small-town destinations for laid-back tourism and toes-in-sand relaxation. Directly across the street from The Palms, the entire block between 7th and 8th is being transformed into an exciting mixed-use development with restaurants, shops, offices, a rooftop bar and a large, landscaped courtyard for people to gather. The tenants announced so far include Old Town Coffee and Ramon Velazquez of Corazón Cocina.

Treasured by locals—regulars and celebrities alike—since the current owner’s family began The Palms restaurant in the 1950’s, the sale package is the rarest of opportunities to acquire prime real estate in an A+ Southern California beach town location, in an iconic building, along with an iconic business and brand.

Offering the ultimate gathering place for locals and a sought-after destination for tourists—Carpinteria and The Palms are welcoming, authentic and embody the true California spirit.

The Palms at 701 Linden Avenue is being offered for $7,750,000. Click here for full Offering Memorandum, and for more information or to schedule a visit, contact Kogevinas Luxury Properties at 805-450-6233 or [email protected].